Gold Prices Rebound with Weakening Dollar and Falling Oil

World gold prices rebounded on September 17 as the US dollar weakened and oil prices continued to fall, supporting precious metals.

The spot price of gold rose by 0.98% to $4,305.86 per ounce, while silver increased by 1.43% to $63.90 per ounce, platinum by 1.16% to $1,776.02 per ounce, and palladium by 1.32% to $1,292.60 per ounce.

The weakening US dollar makes gold more attractive to buyers holding other currencies, while the decline in oil prices reduces concerns about supply disruptions, further supporting the gold market.

Independent analyst Ross Norman believes that some investors may have taken on excessive positions before the Federal Reserve's interest rate decision on September 16 and are now adjusting their holdings.